#REASONABLE DOUBT ZIP ZIP#
A launch of one of these services in the US, where BNPL demand is particularly high, could be on the cards before Australia initially.Ĭompetition is fierce across the BNPL landscape and Zip Co is clearly keen to stay in the race. It’s unclear at this time whether Zip Co will test the waters with stocks or crypto first. That said, according to the Wall Street Journal, Zip Co is also looking to move into stock trading as well as cryptocurrencies. Zip Co’s crypto move certainly represents a different hand at the table (a diamond hand?) from that of BNPL rival Afterpay (ASX:APT), which has been making moves into the more traditional banking sector with Westpac. Zip Co seems tight-lipped for now on how the trading service might actually work, and which cryptos will be integrated. Gray also told the news outlet that a broader range of products, such as budgeting tools for Zip users, was likely to be launched first in Australia, given the fact around 30% of adults have a BNPL account. “We know our younger generation of customers seek additional products and services that are relevant to them,” Gray said. The company’s co-founder, Peter Gray, told Reuters that trading in crypto through the use of a native Zip digital wallet was one of the most sought-after features from its users.
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